A new KHBS/KHOG-TV 40/29 Weather app provides color-coded watches, warnings and advisories, a news release states. The app will include interactive maps with local radar, plus provide late-breaking weather information for users’ current and saved locations. Other features include hourly forecasts and "futurecasts." The app accents 40/29’s Tornado and Alarm Clock apps.

Interest Rates To Remain Same

The Internal Revenue Service announced last week that interest rates will remain the same for the calendar quarter beginning July 1. The rates will be 3 percent for overpayments; 2 percent in the case of a corporation; 3 percent for underpayments; 5 percent for large corporate underpayments; and .5 percent for the portion of a corporate overpayment exceeding $10,000.

Taxpayers filed almost 5 million returns with adjusted gross incomes of $200,000 or more for 2011, up over 9 percent from the prior year. These high-income returns represent about 3 percent of all returns filed for the tax year.

Of the 145 million individual tax returns filed in tax year 2011, almost 92 million were classified as taxable returns or returns with a total income tax greater than $0. Adjusted gross income (AGI) for taxable returns was nearly $7.7 trillion, up 6 percent from the prior year. Total income tax was more than $1 trillion. To be included in the top 1 percent of returns for 2011 required an AGI of $388,905.

For tax year 2011, there were more than 22 million individual taxpayers who reported a total of $43.6 billion in deductions for noncash charitable contributions. About a third (7.5 million) of these taxpayers reported nearly $39 billion in deductions for charitable contributions of $500 or more.

Area businesses can announce relocations, new branches, changed ownership, events and honors from independent organizations by sending information to Times Record Business News, P.O. Box 1359, Fort Smith, AR 72902, or emailing biznews@swtimes.com.